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A “super budget” hotel chain has revealed plans to open a 110-room hotel in Derby.

EasyHotel, founded by Sir Stelios Haji-Ioannou, the man behind low-cost airline easyJet, has said it has signed a franchise agreement with Ushba Ltd for the development of a new hotel in the city.

The exact location has not been confirmed but the group said it would be located “close to the city centre and main transport hubs”. It is expected to open in 2021.

The news was announced in a development update to the London Stock Exchange.

Chief executive Guy Parsons said: “I am pleased to report further progress against our strategy as we continue to expand our network of super budget hotels in city centre locations, both in the UK and across international markets.